Inside Bar on GBP/JPY

Inside Bar on GBP/JPY

This week, the GBP/JPY currency pair kept the key offer zone of 142.650-143.100, which triggered a continued downward trend. At the moment near the "mirror" resistance level of 140.700, a number of the Price Action patterns, Inside Bar, (H1 timeframe) was formed. We recommend you to pay attention to this situation.

If the price has fixed below the local support level of 140.300, you need to look for entry points to the market to open short positions. The closest goal for fixing profits is the mark of 139.750. In the medium term, the GBP/JPY currency pair can reach a round level of 139.000. When tracking the position, we recommend using a trailing stop.

by JustForex, 2017.08.18

We recommend you to have a look at the actual figures of technical analysis.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.